A number of developments at Inspired Entertainment have fuelled Q2 growth for the company.
In particular, the company has signed a new content deal with Novomatic, an agreement that extends to 2022, that will see it supply VLT games content to Novomatic's platform across its Italian retail estate.
In addition, the company has seen growth in its Lottomatica estate, having increased its VLT volumes with Lottomatica by over 10 per cent in the last year, and it has also received additional SBG VLT orders from Greek betting and lottery operator OPAP, bringing its total number of contracted machines to 7,395.
These developments have seen a strong Q2 performance for Inspired, with revenue up to $37.5m, an increase of 33.5 per cent compared to 2017.
"Our second quarter results were strong, with our adjusted EBITDA1 margins growing from 30.8 per cent in Q2 2017 to 33.2 per cent in Q2 2018," said Inspired executive chairman Lorne Weil. "This shows that we are realising scale benefits. Our sustained growth in Greece and our recent virtual sports contract win with the Pennsylvania Lottery demonstrate that our growth prospects are accelerating as our products gain traction in new jurisdictions.
"Our existing Virtual Sports geographies continue to yield growth opportunities as well, with expanded deployments including in Greece, Italy, Scandinavia, Ireland, and the UK. We also expect that our previously announced 1st Down Virtual Football game will launch with US gaming and lottery customers in the middle of 2018. In mobile, we have launched our RGS with multiple new customers, including BetVictor and most recently SNAI. Growth momentum in our business is strong across multiple dimensions."
